Looks like a very extended five wave action with the fifth wave being extended. The other bear option not highlighted there is a nested 1-2 down with today's decline part of wave 3.
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Stock Market Analysis With The Elliott Wave Principle -Dow Jones, S&P 500, Russell 2000, Nasdaq and FX. All charts and commentary on this site are strictly the opinions of the author(s) and are for recreational purposes only. In no way should this be construed as trading advice or a recommendation for investing. See disclaimer at the bottom of the page.
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Wednesday, March 25, 2015
3/25/15 - EOD Update
Wowie. There's some bear action there.
Looks like a very extended five wave action with the fifth wave being extended. The other bear option not highlighted there is a nested 1-2 down with today's decline part of wave 3.
Da bears created the iv-i overlap so the bull count is out.
Still watching this wedge/ED. Price is back near the lower trendline. Wave C of (4) is certainly still an option among other bearish options.
Looks like a very extended five wave action with the fifth wave being extended. The other bear option not highlighted there is a nested 1-2 down with today's decline part of wave 3.